Even though Esports technologies (NASDAQ: EBET at https://www.webull.com/quote/nasdaq-ebet) is a small company relative to other IPOs this week, it still attracts investors. Wall Street seemed to be focusing on Esports Technologies’ position as an online gambling site ahead of its IPO. Gamers are playing video games while seated at their computers wearing headphones. Importantly, Esports Technologies is a Las Vegas-based firm that specializes in esports and skilled gaming online gambling. Investors are hoping that the relatively small business will cash in on an accelerating trend.
Here’s what you need to know about Esports Technologies’ initial public offering (IPO) and EBET stock right now:
- Esports Technologies will begin trading as EBET on the Nasdaq Exchange today.
- The company increased the size of its initial public offering (IPO) earlier this week.
- By selling 2.4 million shares, the company expects to earn $14.4 million.
- It also comes as Esports Technologies prepares for an initial public offering (IPO) for $6. This is higher than the $4.50-$5.50 range it was given at the start.
- It will lift 16 percent more than anticipated at the midpoint of the new range.
- After filing in confidence, the company officially trooped to go free in March 2021.
- Esports Technologies only made $196,00 in sales during the fiscal year that ended in September 2020.
- In the same time frame, it posted a net loss of $573,000.
- Esports Technologies mainly creates and runs esports and gaming sites.
- Gogawi.com, a website for bettors in Latin America and Asia, is also operated by the group.
- It supports wagers and allows consumers to place bets on expert sporting occasions. • It allows consumers to place actual bets on esports events for titles such as Rocket League, League of Legends, and Counter-Strike: GO.
Esports Technologies’ Initial Public Offering (IPO) and EBET Stock
EBET stock will begin trading with a micro-cap valuation, as several others have pointed out. This makes it pale compared to rivals such as DraftKings (NASDAQ: DKNG), a popular option among retail investors. However, it appears that investors interested in the future of online gaming think this is a stock to keep an eye on.
Investors may also be interested in the company’s partnership with cryptocurrencies. Customers could previously pay with Bitcoin (CCC: BTC-USD) and other cryptos, according to Esports Technologies’ S-1 filing. This could help EBIT stock stand out in the wake of Coinbase’s (NASDAQ: COIN) debut.
The IPO of Esports Technologies, however, is not without danger. Given the unpredictable price movements of BTC and its peers, the company also flags its links to cryptos. With U.S. controllers beginning to warm up to online gaming and Esports directing new growth markets , the business has many rooms to expand. Before investing, you can check other stocks such as amex zom which you can find at https://www.webull.com/quote/amex-zom.